Proactive Releases - Reserve Bank Act Review

The Treasury is releasing documents relating to Phase 1 and 2 of the Review of the Reserve Bank of New Zealand Act to be transparent and to help inform public debate on the Review. The documents will be released in stages. A number of these documents are already publicly available.

• Phase 1 Reviewing the Reserve Bank of New Zealand (RBNZ) Act - Proactive Release
  Phase 1 of the review focused on New Zealand’s monetary policy framework and concluded with the Reserve Bank of New Zealand (Monetary Policy) Amendment Act coming into force on 1 April 2019.
• Scoping of Phase 2 of the Reserve Bank Act Review - Proactive Release
  Phase 2 of the review is currently underway and focuses on the financial policy responsibilities of the Reserve Bank and institutional arrangements. Officials and the Independent Expert Advisory Panel advised the Minister of Finance on the scope of Phase 2.
• Phase 2 of the Reserve Bank Act Review - Proactive Release
  • Consultation 1 of Phase 2 of the Reserve Bank Act Review - Proactive Release
    The consultation focused on five key issues: Objectives, Regulatory Perimeter, Depositor Protection, Separation, and Governance of the Reserve Bank.
  • Consultation 2 of Phase 2 of the Reserve Bank Act Review - Proactive Release
    The consultation was divided into two parts:
    • Part A confirmed key in-principle decisions on the following areas: Objectives, Regulatory Perimeter, Depositor Protection, Separation, and Governance of the Reserve Bank.
    • Part B consulted on: Prudential tools and powers, Macro-prudential policy, Supervision and enforcement, Balance sheet functions, Crisis management, Coordination and Funding.
  • Reserve Bank Act Review Phase 2 Review Update - Proactive Release
    Cabinet decisions relating to the Reserve Bank's institutional arrangements, and in-principle decisions on the regulation of deposit takers and the introduction of a deposit insurance scheme. The update notes Cabinet’s decision to progress review decisions through two separate pieces of legislation – an “Institutional Act” and a “Deposit Takers Act”.
  • Reserve Bank Act Review Phase 2 - July 2020 Proactive Release
    Cabinet decisions relating to the Reserve Bank's institutional arrangements and the updated Regulatory Impact Statement. 
  • Consultation 3 of Phase 2 of the Reserve Bank Act Review - Proactive Release
    This consultation was on the regulation of deposit takers and the introduction of a deposit insurance scheme. As everyone benefits from a stable financial system, this will ensure that the framework within which the banking sector is regulated and supervised enables the Reserve Bank to perform its role effectively.

• Proactive release of the April 2021 Deposit Takers Act Cabinet Papers and related documents
  Cabinet decisions relating to the new prudential framework for deposit takers, deposit insurance and crisis management for the Reserve Bank of New Zealand, and the Regulatory Impact Statement.